What is the major difference between a periodic and perpetual inventory system? a. under the periodic inventory system, the purchase of inventory will be debited to the purchases account. b. under the periodic inventory system, no journal entry is recorded at the time of the sale of inventory for the cost of the inventory. c. under the periodic inventory system, all adjustments such as purchases returns and allowances and discounts are reconciled at the end of the accounting period. d. all of the answers are correct.

suppose, due to favorable weather, the crop in 2012 is 330 tons. in percentage terms, how much bigger is the 2012 crop over the 2007-2011 average?

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest.the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed.what control allowed the fraud to occur?

Which value describes the desire to be one’s own boss? a. autonomy b. status c. security d. entrepreneurship